Insurers and reinsurers in the EU should temporarily suspend dividends and share buybacks, and consider postponing bonuses as well to ensure continuity in services during the coronavirus pandemic, the bloc's insurance regulator said on Thursday (2 April).

Nations across the globe should step up preparations against global risks such as climate change and cyber attacks, EU officials say, as these areas remain the most pressing for global experts surveyed ahead of this year's World Economic Forum (WEF) taking place in Davos next week.

The liquidation of Cyprus’ Olympic Insurance, largely unnoticed on the island, is sending shockwaves through Bulgaria as it has left almost 200,000 policyholders with no coverage, causing a serious political crisis.

Following the move by major European insurers Allianz, AXA, Generali and SCOR, the two French insurance companies Macif and AG2R La Mondiale will no longer invest in companies planning new coal-fired power plants. Germany’s top utility RWE is among the companies most affected by the new decision.

The Bank of England and the insurers it regulates must find common ground over proposed tweaks to European Union rules so that the 1.9 trillion pound (€2.14 trillion) sector stays competitive after Brexit, a panel of UK lawmakers said in a report today (27 October).

A major, global cyber-attack could trigger an average of $53 billion (€46.30) of economic losses, a figure on par with a catastrophic natural disaster such as US Superstorm Sandy in 2012, Lloyd's of London said in a report today (17 July).

Institutional investors, like insurers and pension funds, are increasingly turning to long-term investments, according to Paul Smith, the head of the CFA Institute. Smith told EURACTIV.com he is “very” optimistic about Europe, saying be believes Britain will not leave the EU.

The European Commission is trying to figure out whether insurance laws should be changed to cover crashes caused by driverless cars. With no human in control of the cars, insurance companies are already rethinking who will be liable for the new technology.

Cash could become history within a decade, thanks to new financial instruments, including virtual currencies, some of the world's leading bankers said during the World Economic Forum on Wednesday (20 January).

SPECIAL REPORT / Europe plays a leading role in the global insurance business. But maintaining this position will depend on its ability to respond to emerging threats in the digital economy, analysts warn.

SPECIAL REPORT / With trillions of assets under management, the insurance sector remains a mainstay of the European financial industry. But insurance services are less frequently offered across borders, adding unnecessary costs to consumers, critics say.

New, stricter capital rules for Europe's insurers could spur takeovers and consolidation next year among the region's 5,000 insurers, after recent stress tests showed nearly one in seven would fail them, analysts and industry executives said.

The European Union should open up retail financial services to more competition to bring lower prices for consumers who will also then see how EU membership can produce tangible benefits, the bloc's new financial chief said on Tuesday (18 November).

Investment by insurance companies in Europe grew by 3.2% in 2013. However, the sector fears that long-term investments may be adversely affected when tighter prudential regulations come into force in 2016.

The European Union's powerful insurance watchdog EIOPA has blasted stagnant political talks to finalise new risk capital rules for the insurance sector, saying the delay was undermining EU credibility internationally.

The European Union is edging closer to a final deal to streamline regulation in the EU insurance sector and make the bloc's multi-trillion market safer and more efficient, said EU officials yesterday (25 March).

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